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Description

A Joint Venture is an entity formed between two or more parties to undertake an economic Project together. The parties agree to create a Joint Venture by both contributing financial funds for the Project. The parties to the joint Venture then share in the revenues, expenses, and control of the enterprise.

The phrase generally refers to the purpose of the entity and not to a type of entity. Therefore, a joint venture may be a corporation, limited liability partnership or other legal structure, depending on a number of considerations such as tax and tortious liability.

This Joint Venture Agreement is drafted in plain English that is easy to read and comprehend. This is a “Short Form” two page, nine clause legal Agreement. The Agreement may be filled in on your computer or printed out and filled in later.

We regularly receive feedback that we have successfully drafted our filmmaker contracts to be as complete as possible for all legal situations. However, should you experience a unique personal situation requiring the drafting of a special clause, please contact us at your convenience. Otherwise, you may be obliged to find a local entertainment lawyer experienced in the film making industry who will draft any and all other clauses for your Project’s unique situation or circumstance.

1. The Joint Ventures names mentioned above shall be known as the “Joint Venturers” in this Agreement.

2. The Joint Venturers have agreed to make contributions to a common fund for the purpose of financing the above named Project.

It is therefore agreed:

3. Purpose. The Joint Venturers form this joint venture to finance the above named Project in common and to provide the business guidance required for the Project. To the extent set forth in this Agreement, each of the Joint Venturers shall own an undivided fractional part in the business.

4. Contributions. Each of the Joint Venturers, for the purpose of this joint venture, contribute the sum set after the name of each Joint Venturer as follows:
Joint Venturer __________________________ Contribution ______________
Joint Venturer __________________________ Contribution ______________
For the total contribution to the Project financing of ______________________

5. Expenses of Venture. All losses and disbursements incurred by the Agent in acquiring, holding and protecting the business interest and the net profits shall, during the period of the venture, be paid by the Joint Venturers, on demand, in the ratio which the contribution of each Joint Venturer bears to the total contributions set forth in Paragraph 4.

6. Profits. The Agent shall hold and distribute the business interest and shall receive the net profits as they accrue for the term of this Agreement or so long as the Joint Venturers are the owners-in-common of the business interest, for the benefit of the Joint Venturers as follows:
Joint Venturer____________________________ Proportion ______________
Joint Venturer____________________________ Proportion ______________

7. Term. This Agreement shall be deemed completed on the happening of either of the following events: (a) the receipt and distribution of the final net profits accruing under the . . . (continued)